Issue of Equity - Replacement

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN GLOBAL CORE REAL ASSETS LIMITED

ISSUE OF SHARES - REPLACEMENT

Legal Entity Identifier: 549300D8JHZTH6GI8F97

The following amendment(s) has (have) been made to the 'Issue of Shares' announcement released on 19th December 2019 at 15.44 under RNS No 5477X.

The original announcement advised that the new Ordinary shares would be admitted for trading at 8.00 a.m on 27th December 2019. This should have read that the Ordinary shares would be admitted for trading at 8.00 a.m on 6th January 2020.

All other details remain unchanged.

The full amended text is shown below.

JPMorgan Global Core Real Assets Limited announces that today it issued 2,232,740 new Ordinary shares for cash at 102.50 pence per share, pursuant to its Placing Programme of up to 1 billion Ordinary Shares and/or C shares (excluding any Ordinary Shares issued pursuant to the Issue), as described in the Prospectus.

Following this issue, the Company's issued share capital consists of 168,572,537 Ordinary shares.

Application has been made for the new Ordinary shares to be admitted to the premium segment of the Official List and to trading on the Main Market of the London Stock Exchange. It is expected that the new Ordinary shares will be admitted for trading at 8.00 a.m. on 6th January 2020.

A copy of the Prospectus has been submitted to the National Storage Mechanism and is available for inspection at http://www.morningstar.co.uk/uk/NSM.

19th December 2019

Alison Vincent

JPMorgan Funds Limited - Company Secretary

Telephone 0207 742 4000

For further information and for further stock issuance, please contact:

Fin Bodman / Richard Plaskett

JPMorgan Funds Limited

Telephone 0207 742 4000

Charlotte Crowe

J.P.Morgan Securities plc

0207 742 8805